Why Bitcoin Cannot Function As Currency

Last Updated on February 8, 2023 by Paganoto

Why Bitcoin or cryptos won't work as actual currencies | Mint

Cryptocurrencies may never be able to work as actual currencies, according to UBS Global Wealth Management. The “fundamental flaw" inherent in cryptocurrencies is that supply can't be reduced when demand is slumping in most cases, Paul Donovan, chief economist at UBS GWM, said in a video this week.Jan 22, 2021

Bitcoin Lacks the Properties of a Real Currency

Bitcoin also lacks additional characteristics usually associated with currencies. It cannot be deposited in a bank; instead it must be held in “ …

Why Governments Are Wary of Bitcoin – Investopedia

In its current form, Bitcoin presents three challenges to government authority: it cannot be regulated, it is used by criminals, and it can help citizens …

Here is why booming bitcoin will never be a form of payment …

As more institutions embrace bitcoin, some experts say the cryptocurrency is not well suited as a method of payment.

Why Bitcoin is not a currency but a speculative real asset

However, when a currency cannot be accurately valued, this clearing mechanism does not work anymore (Weimar hyperinflation being the classic example).

Why Bitcoin Can't Serve As A Currency (OTCMKTS:GBTC) | Seeking …

Bitcoin can’t serve as a currency. This is shown by the very solution which allows merchants to sell goods and services priced in Bitcoin.

Disadvantages | Bitcoin

Since Bitcoins do not have a physical form, it cannot be used in physical stores. It would always have to be converted to other currencies. Cards with Bitcoin …

Five Reasons Why The Government Does Not Like Bitcoin

Governments have the power to control traditional currencies such as Dollars, Euros, Yuan, etc. They can change the monetary policy to run the economy. They can …

Should Bitcoin Be Classified as Money? – De Gruyter

by A Passinsky · 2020 · Cited by 2 — Judge Forrest disagreed, opining as follows: “Bitcoins carry value—that is their purpose and function—and act as a medium of exchange. Bitcoins …

Can cryptocurrencies fulfil the functions of money?

by S Ammous · Cited by 180 — Bitcoin may have credible and predictable low supply growth but it cannot be said to offer stability. Figure 4: Bitcoin supply and supply growth …

Paganoto

Pagaonoto is an SEO editor and cryptocurrency researcher for various publications.